Wealthsimple is entering the prediction markets sector through a partnership with Kalshi. The company will launch Wealthsimple Predict, a standalone app offering event-based contracts. The Kalshi Canada partnership brings regulated prediction markets to a wider Canadian audience.

• Wealthsimple Predict is expected to launch later this summer; users will gain access to around 4,000 event contracts listed on Kalshi’s exchange. Markets will cover economic, financial and climate-related outcomes.
• The launch follows approval from the Canadian Investment Regulatory Organization (CIRO). Wealthsimple is only the second company in Canada authorized to offer this type of product. The approval allows trading in approved prediction and futures-style contracts.
• Sports and election contracts will not be available in Canada. Current regulations limit prediction markets to specific categories such as finance and economics. The rules also include restrictions on contract duration.
• Wealthsimple said the new app is designed to make prediction markets easier to access. Users will trade contracts through a dedicated mobile platform. “Wealthsimple Predict” will launch as a separate app rather than inside the company’s main investment platform.
• Founded in 2014 and based in Toronto, Wealthsimple is one of Canada’s largest digital financial platforms. The company serves more than three million clients and manages over CAD 70 billion (ca. EUR 43 billion) in assets.

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